U.S. demands regular review of China trade reform

U.S. demands regular review of China trade reform

On Thursday, The Wall Street Journal reported that Treasury Secretary Steven Mnuchin had floated the idea of easing tariffs on Chinese goods as the two countries continue to negotiate on trade.

US stocks rose on Friday as Wall Street became more optimistic about potential progress in trade negotiations between Washington and its key trading partners while digesting some key economic data. "Investors are still hopeful that the trade dispute can be resolved", said McKinnon.

"We are prepared to put our vehicles tariffs on the negotiating table ... if the USA agree to work together toward zero tariffs on industrial goods", Malmstrom said during a news conference.

U.S. stocks rose as Wall Street became more optimistic about potential progress in trade negotiations between Washington and its key trading partners while digesting some key economic data.

But weakness on Wall Street - where the Dow Jones Industrial Average has lost more than 9 per cent since its Oct 3 peak - and mounting unease among Mr Trump's political supporters hurt by the tariff war are triggering the President's dealmaking instincts, the people familiar with the discussions said.

Trade-exposed indexes and stocks also buoyed, with autos advancing 1.4 percent to €475.94, while Germany's DAX rose 1 percent to €11,029.68. -China trade row remains a key market theme in 2019.

American and Chinese trade officials have until March 1 to resolve their trade war, to prevent a sharp increase in punitive USA duties on $200 billion in Chinese goods.

The US is pushing for regular reviews of China's progress on pledged trade reforms as a condition for a trade deal, and could again resort to tariffs if it deems Beijing has violated the agreement.

More news: Klopp can shuffle pack at the back despite injuries

Benchmark 10-year notes last fell 11/32 in price to yield 2.786%, compared with 2.747% late on Thursday.

Shares in the Asia-Pacific outside of Japan went up by 0.25 percent. CEO Elon Musk said the cuts are meant to reduce costs as the company lowers the price for its cars.

Brent crude was last up $1.72, or up 2.81%, at $62.90 a barrel. Airplanes, soybeans and automobiles were among China's top USA imports past year. He said in a note to staff that the road ahead is "very hard". The Nasdaq Composite Index rose 72.76 points, or 1.03 percent, to 7,157.23.

Elsewhere in commodities, palladium was 1.2 percent higher at $1,412.50 an ounce after rising to an all-time high of $1,434.50 overnight.

One disappointment was Netflix Inc, which fell 1.61 percent as investors looked past its record subscriber numbers and instead focused on its lower-than-expected revenue forecast for the first quarter.

Developing world currencies were subdued against a recovering dollar with Turkey's lira and South Africa's rand falling the most.

The pound slipped against the euro, partially trimming overnight gains, as traders wagered on a second referendum vote on Britain's European Union membership.

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